As mentioned in the first part of the article “MONACO: 7 districts with 7 different personalities”, people who don’t know Monaco sometimes confuse Monaco and Monte-Carlo as being one and the same. In fact, Monaco is the city, and the state and Monte-Carlo is its best-known district.
In the first article, 3 districts have been covered such as Fontvielle, Monaco Ville, and La Condamine. Now let’s take a look at the other 4 districts making Monaco an exceptional place to live in.
District #4: MONEGHETTI / JARDIN EXOTIQUE
Moneghetti is located on the north-central border of Monaco. This district is close to the French town of Beausoleil, as well as Cap d’Ail in France. This area becomes more and more attractive and recently, several new buildings with high standard amenities have been built. Since this district is overlooking the Principality, many apartments enjoy a pleasant view of the port Hercules and the rock. The price per square meter of this district is comparable to that of the Condamine area, although the new buildings have caused a rise in prices. Investors with a lower budget may be interested in the more bourgeois style apartments in this sector.
District #5: MONTE-CARLO
Monte-Carlo is the most prestigious district in Monaco and also the quarter that boasts the highest quantity of constructed surfaces (791,000 m2). The most famous area in Monte-Carlo is the “Carré d’Or/Golden Square” which was founded in the middle of the 19th century by Prince Charles III building the Garnier Opera, which is a smaller version of the famous Paris Opera. This district is known for its Palace hotels, its Casino and a concentration of luxurious boutiques. It is also the district that has the highest concentration of commercial space – amounting to 36% of the Principality’s total. Living in this district means being truly at the heart of things in the Principality, within an easy stroll of the Casino, the Hôtel de Paris, the Café de Paris, the Métropole Shopping Centre and the prestigious boutiques, banks, restaurants and bars of the “Carré d’Or” or “Golden Square” shopping area. In some renowned buildings such as the Mirabeau, the Floralies, the Park Palace, the Sun Tower, or the Monte Carlo Star, the price is reaching €80,000 per square meter.
District #6: LA ROUSSE / SAINT ROMAN
This area is located on the northeast side of Monaco, from the Place des Moulins to the Monte Carlo Country Club, north of the Larvotto area. There are several high standing residences, like Villas del Sole, Monte Carlo Sun, Parc Saint Roman, but you can also find 1950’s bourgeois buildings. Tour Odéon is located here, which considerably raises the attractiveness of this area. Prices of property in the Tour Odéon are around €90,000 per square meter, whereas Château Périgord and Parc Saint Roman, are offered around €35,000 per square meter.
District #7: LARVOTTO
On the eastern seaboard of Monaco lies Larvotto, built in the 1960’s, counting only 40 buildings, or 3% of the total number. But these buildings account for more than 8% of the constructed surface of the Principality. The famed Summer Sporting Club, hosting concerts of internationally famous artists, the Grimaldi Forum, the Japanese Gardens, the Méridien Beach Plaza and the Monte-Carlo Bay Hotel are all to be found in this quarter. At the very tip of this coastal strip also lies the renowned Beach Hotel neighboring the Monte Carlo Country Club, which hosts the Rolex Masters, ATP Tennis Tournament. With a relaxed and sophisticated ambiance, the Larvotto area also is home to a great number of famous residents who appreciate the exceptional views out over the sea from the district’s upmarket buildings. This district is mainly composed of modern constructions with relatively high standard buildings. The core inconvenience for the potential investors of an apartment on “Princess Grace Avenue” is the limited number of buildings that are available for sale.
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